THE government’s focus on reducing the fiscal deficit in Budget 2024 is aimed at boosting investor confidence and spurring economic growth, Prime Minister Anwar Ibrahim said.

Anwar, who is also finance minister, said if the national deficit increased further, investors would not have confidence in the government leadership.

“If the deficit continues to swell, potential investors will have no confidence, (thinking) that the country is being governed by an irresponsible leadership,” he said during the monthly Finance Ministry assembly in Putrajaya today.

Referring to the philosophy of economist and philosopher Adam Smith, Anwar said the best way to manage the economy is like managing the economics of the family.

“Swelling debt that the children can’t afford to pay, means a failure in management. Debt that can be handled later, it is reasonable especially if the debt can bring growth,” he said. – Bernama, October 17, 2023.